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Phase 1: The Daily Budget
Sticking to your budget and saving money doesn’t have to be hard or boring. You have already created your budget, and you know how much disposable money you have between each check. The first step is to remove any credit or debit cards out of your purse or wallet.
If your paycheck is weekly prepare 7 envelopes, if there are 14 days between checks get 14. Now divide the money into equal amounts for each envelope. If you have implemented the “spend no money day” leave that one empty and divide the money accordingly. Write the date on the outside of each envelope in pencil so you can reuse the envelopes.
Every night before you go to bed take out the envelope and replace it with the next days. If there is any extra money in the envelope, you may place it in your lockbox where you have your petty cash savings at home, or you may place some in your envelope for a future day. Any coins you have should go into whatever you have designated to save your change in.
Phase 2: The Money Game
Pick a size of the bill you would like to collect. If you are on a very tight budget start with $1 bills. Then when you can move up to $5 bills, eventually if you like you can move up to $10 bills. Personally, I think $5 bills are the easiest and best to use. Every time you get a $5 bill that is the saving bill. Collecting $5 bills will become fun and in a very short time you will have a nice petty cash savings in your home for “when” things happen. As we all know in life, it is not “if” things will go wrong; it is “when” they will!
As I mentioned before, you should be saving all your coins. I have one friend that does not touch his coins until November. At that point, he finds out how much money he has and that is what he buys all his Christmas gifts with. The first year he did this he had a little over $200. Last year he even picked up coins he found on the ground, and he had a little over $400.
I was always told coins found on the ground are an angel or a loved one that has passed letting us know they are with us in spirit. Notice how you are feeling when you find the coin. Finding a coin represents one of these messages: “You are never alone,” “I am here and I love you very much,” “We miss you,” “Cheer up and smile,” “Everything is going to be okay,” “I am watching over you.” Might I add one more; “I know you are in need of this, so pick it up, and save it my dear for a rainy day.” So, don’t pass that penny it might be a penny from heaven.
Hopefully you can see a little savings can go a very long way, and saving money is not as hard as you might think.
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Originally posted 2013-01-04 14:32:27. Republished by Blog Post Promoter